AFRICA’S COLOURED GEMSTONE TRADE FLOWS TO ASIA – AND CRIME AND CORRUPTION

On 31 July, an article from the Global Initiative Against Transnational Organised Crime says that the coloured gemstone sector is an international trade linking supply countries in Africa and traders in Thailand and elsewhere in Asia. Today, it says, there are more than 50 source countries and over a hundred gemstone varieties. In 2015, the sector was valued at between $17 billion and $23 billion. The rough stones are shipped mainly to Thailand, India and Sri Lanka. The article warns that the informal nature of the trade, combined with the inherent difficulty in valuing rough stones at the site of extraction, provides ample opportunity for criminal and corrupt actors to exploit and profit from it. The report is available at –

https://globalinitiative.net/wp-content/uploads/2020/07/A-Rough-Cut-Trade-Africa%E2%80%99s-Coloured-Gemstone-Flows-to-Asia-GITOC.pdf

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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